P-RENOV: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
P-RENOV
Largest movements
- Stocks and contracts -€80,800
down €80,800 (-97.8%), from €82,640 to €1,840
of which Contracts in progress: -€80,000
- Tangible fixed assets -€17,879
down €17,879 (-17.2%), from €103,873 to €85,994
of which Furniture and vehicles: -€12,519
- Receivables within one year +€12,566
up €12,566 (+243%), from €5,168 to €17,734
of which Trade receivables: +€12,800
- Cash -€6,719
down €6,719 (-62.2%), from €10,796 to €4,077
mainly Advances received (-€61,359) and Other debts (-€29,897)
- Advances received -€61,359
no longer reported in 2025 (was €61,359)
- Other debts -€29,897
down €29,897 (-24.3%), from €123,058 to €93,161
- Profit (loss) carried forward +€12,666
up €12,666 (+47.2%), from -€26,838 to -€14,172
- Debts after one year -€12,291
no longer reported in 2025 (was €12,291)
- Trade debts +€6,060
up €6,060 (+60.5%), from €10,024 to €16,084
- Gross operating margin +€26,916
up €26,916 (+255%), from €10,554 to €37,470
- Depreciation +€10,115
up €10,115 (+99.6%), from €10,160 to €20,275
- Financial charges -€634
down €634 (-37.9%), from €1,672 to €1,038
- Other operating charges +€383
up €383 (+18.8%), from €2,033 to €2,416
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €204,439 | €112,461 | -€91,978 | -45.0% |
| Fixed assets | 21/28 | €103,873 | €85,994 | -€17,879 | -17.2% |
| Tangible fixed assets | 22/27 | €103,873 | €85,994 | -€17,879 | -17.2% |
| Plant, machinery and equipment | 23 | €1,285 | €1,203 | -€82 | -6.4% |
| Furniture and vehicles | 24 | €63,876 | €51,357 | -€12,519 | -19.6% |
| Other tangible fixed assets | 26 | €38,712 | €33,434 | -€5,278 | -13.6% |
| Current assets | 29/58 | €100,566 | €26,467 | -€74,099 | -73.7% |
| Stocks and contracts in progress | 3 | €82,640 | €1,840 | -€80,800 | -97.8% |
| Stocks | 30/36 | €2,640 | €1,840 | -€800 | -30.3% |
| Contracts in progress | 37 | €80,000 | - | -€80,000 | |
| Amounts receivable within one year | 40/41 | €5,168 | €17,734 | +€12,566 | +243% |
| Trade receivables | 40 | €4,575 | €17,375 | +€12,800 | +280% |
| Other amounts receivable | 41 | €593 | €359 | -€234 | -39.5% |
| Cash at bank and in hand | 54/58 | €10,796 | €4,077 | -€6,719 | -62.2% |
| Deferred charges and accrued income | 490/1 | €1,962 | €2,816 | +€854 | +43.5% |
| Total equity and liabilities | 10/49 | €204,439 | €112,461 | -€91,978 | -45.0% |
| Equity | 10/15 | -€21,838 | -€9,172 | +€12,666 | +58.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€26,838 | -€14,172 | +€12,666 | +47.2% |
| Amounts payable | 17/49 | €226,277 | €121,633 | -€104,644 | -46.2% |
| Amounts payable after more than one year | 17 | €12,291 | - | -€12,291 | |
| Financial debts | 170/4 | €12,291 | - | -€12,291 | |
| Amounts payable within one year | 42/48 | €209,734 | €121,633 | -€88,101 | -42.0% |
| Current portion of amounts payable after more than one year | 42 | €11,935 | €12,291 | +€356 | +3.0% |
| Trade debts | 44 | €10,024 | €16,084 | +€6,060 | +60.5% |
| Suppliers | 440/4 | €10,024 | €16,084 | +€6,060 | +60.5% |
| Advances received on contracts in progress | 46 | €61,359 | - | -€61,359 | |
| Taxes, remuneration and social security | 45 | €3,358 | €97 | -€3,261 | -97.1% |
| Taxes | 450/3 | €3,358 | €97 | -€3,261 | -97.1% |
| Other amounts payable | 47/48 | €123,058 | €93,161 | -€29,897 | -24.3% |
| Accrued charges and deferred income | 492/3 | €4,252 | - | -€4,252 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,160 | €20,275 | +€10,115 | +99.6% |
| Other operating charges | 640/8 | €2,033 | €2,416 | +€383 | +18.8% |
| Non-recurring operating charges | 66A | €24,067 | €978 | -€23,089 | -95.9% |
| Gross operating margin | 9900 | €10,554 | €37,470 | +€26,916 | +255% |
| Operating profit (loss) | 9901 | -€25,706 | €13,801 | +€39,507 | |
| Financial charges | 65/66B | €1,672 | €1,038 | -€634 | -37.9% |
| Recurring financial charges | 65 | €1,672 | €1,038 | -€634 | -37.9% |
| Profit (loss) for the period before taxes | 9903 | -€27,378 | €12,763 | +€40,141 | |
| Income taxes | 67/77 | €92 | €97 | +€5 | +5.4% |
| Profit (loss) for the period | 9904 | -€27,470 | €12,666 | +€40,136 | |
| Profit (loss) for the period to be appropriated | 9905 | -€27,470 | €12,666 | +€40,136 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.